WebAction gets $20 mn funding led by Intel Capital

WebAction secured $20 million in Series B funding, led by Intel Capital, the company said Monday.

The funds will help the company expand the technical depth and market reach of its Striim platform, accelerate sales, and build distribution channels to help meet rapidly increasing demand.

Apart from Intel Capital, the provider of the Striim platform also received funds from its existing investors such as Summit Partners, Panorama Point Partners, Frank Caufield and Regis McKenna, as well as a new strategic investor.

WebAction said Igor Taber, investment director for Big Data and Analytics at Intel Capital, will join its board of directors. The company also rebranded its software offering as Striim.